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Philadelphia Eagles QB Michael Vick Almost out of $20 Million Debt

PHILADELPHIA, PA - JANUARY 01:  Michael Vick #7 of the Philadelphia Eagles looks on from the sideline during a game against the Washington Redskins at Lincoln Financial Field on January 1, 2012 in Philadelphia, Pennsylvania.  (Photo by Patrick McDermott/Getty Images)
Patrick McDermott/Getty Images
Mick AkersAnalyst IMarch 15, 2012

Once looking like he may never be out of debt for the rest of his life, Philadelphia Eagles quarterback Michael Vick is nearly out of a $20 million debt that was amassed while dealing with the dog-fighting charges that nearly ended his career according to a Forbes report.

Vick, who spent two years in prison for his role in a dog-fighting ring, played very little in his first year out of prison behind former longtime Eagles QB Donovan McNabb in 2009, had a breakout year in 2010, which gained him new-found star power and a $100 million contract for the second time in his NFL career in the August of 2011.

Most of his first year's salary of around $17 million went towards his once-massive debt, knocking it down to less than $400,000, which means Vick will be debt-free and in the positive side of the money train come this year's NFL season.

The money he has made has been worth every penny so far, even though Vick has been injured quit a few time, as he has broken career passing levels for a year in each of the past two seasons throwing for 3,018 yards in 2010 and 3,303 yards in 2011, to go along with 49 total touchdowns and 1,265 rushing yards between the two seasons.

Vick has turned around a career that once looked like it could be sidelined forever, and has not only gained a new-found wealth from the Eagles, but also a new fan base and a list of endorsement deals that includes Nike, the company that dropped Vick once he was sentenced to prison back in 2007.

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